Terms Used In U.S. Code > Title 15 > Chapter 24

Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.

Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization

Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.

Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC

Contract: A legal written agreement that becomes binding when signed.

county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See

Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.

Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts

Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.

Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC

gambling device: means --

(1) any so-called "slot machine" or any other machine or mechanical device an essential part of which is a drum or reel with insignia thereon, and (A) which when operated may deliver, as the result of the application of an element of chance, any money or property, or (B) by the operation of which a person may become entitled to receive, as the result of the application of an element of chance, any money or property. See

Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC

Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.

interstate or foreign commerce: means commerce (1) between any State or possession of the United States and any place outside of such State or possession, or (2) between points in the same State or possession of the United States but through any place outside thereof. See

Lien: A claim against real or personal property in satisfaction of a debt.

Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC

person: means any individual, partnership, corporation, association, or other entity. See

Personal property: All property that is not real property.

possession of the United States: means any possession of the United States which is not named in paragraph 1 (b) of this section. See

Probate: Proving a will

Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.

State: includes the District of Columbia, Puerto Rico, the Virgin Islands, and Guam. See

Statute: A law passed by a legislature.

Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.

Subpoena: A command to a witness to appear and give testimony.

Subpoena duces tecum: A command to a witness to produce documents.

Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.

Trustee: A person or institution holding and administering property in trust.